The Federal Budget, Currency Concerns, Scotiabank's Video Podcast

Helping clients prepare and transition into retirement!

November 2007

In This Issue
	The Federal Budget Current Market Volatility and Currency Concerns Scotiabank Introduces Video Podcast Providing Expert Advice

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	BevMoir.com About the Moir Team What we do For clients Scotiabank Second Opinion Campaign

Greetings!

Here are three items that I hope will be of interest to you. The first is about the 2007 Canadian Federal Budget that included a number of tax proposals that could affect you and your loved ones. I am including highlights. The second is about the current market volatility and currency concerns. The third is about Scotiabank's "Second Opinion" campaign.

The Federal Budget

The 2007 Canadian Federal Budget included a number of tax proposals that could affect you and your loved ones. Highlights of some of the major changes include: -for Registered Education Savings Plans (RESP), an increase to $2,500 in the maximum annual contribution amount that qualifies for the Canada Education Savings Grant, increasing the maximum CESG to $500 from $400; -an extension of the age limit for maturing RRSPs (and RPPs), where currently contributions stop by the end of the year the taxpayer turns 69 and then must start a withdrawal program (RRIF), to now when the taxpayer reaches the age of 71 -more flexibility for employers to offer phased retirement for older workers -effective March 19, 2007, elimination of the taxation of capital gains arising from the donation of publicly listed securities to a registered charity. Please read the full report here (pdf-46kb)

Current Market Volatility and Currency Concerns

Market volatility increased in mid-2007 and there seems to be no end in sight for the negative news, or the volatility, as I write this note. Concerns abound about the health of the major U.S. banks, fears of a U.S.-led consumer recession, currency weakness, and the C$ strength which has had the effect of reducing the value of many U.S.$ investments when priced in C$'s. Many investment managers do not hedge their portfolios. The enclosed article explains how one investment company, Russell Investments, views hedging. It will provide insight into the complexities of hedging and offer a rationale for remaining committed to your long-term plan. Read more in the Currency Conundrum (pdf-110kb)

Scotiabank Introduces Video Podcast Providing Expert Advice

TORONTO, November 5, 2007 - Scotiabank today launched the first video podcast designed not only to better educate Canadian investors, but also to demonstrate how getting second opinions on their portfolios may generate positive returns. The first video podcast - featuring Fred Ketchen, Director of Equity Trading, ScotiaMcLeod and Bev Moir, Senior Investment Executive, ScotiaMcLeod - focuses on the importance of asset allocation and geographic representation. "Having an investment portfolio is great, but Canadians must also understand what and where their investments are, as well as how much risk they have taken on," said Mr. Ketchen. "In this podcast Bev and I simplify the subject matter so that people grasp these important considerations. Investors need to understand their portfolios and seek second opinions if there are any doubts in their minds." Scotiabank is also launching an interactive investor Web site. It includes an interactive tool that helps investors calculate asset mix and foreign investments that meets their unique needs. The video podcast is also available on iTunes and YouTube. View the podcast, the calculator and other educational materials here

Ingrid and I are very grateful for your patronage and are available to assist you at anytime.

Sincerely,

Beverley J. Moir, MHSA, FCSI, CIMA
Sr. Investment Executive

ScotiaMcLeod, Head Office Branch

phone: (416) 862-3911